Year-To-Date, Cronos Group Inc (NASDAQ: CRON) Price Has Increase 37.80%. Does Trouble Ahead?


During the last session, Cronos Group Inc (NASDAQ:CRON)’s traded shares were 6.98 million, with the beta value of the company hitting 1.17. At the end of the trading day, the stock’s price was $2.88, reflecting an intraday gain of 8.68% or $0.23. The 52-week high for the CRON share is $2.77, that puts it up 3.82 from that peak though still a striking 43.06% gain since the share price plummeted to a 52-week low of $1.64. The company’s market capitalization is $1.10B, and the average intraday trading volume over the past 10 days was 5.19 million shares, and the average trade volume was 2.64 million shares over the past three months.

Cronos Group Inc (NASDAQ:CRON) trade information

Cronos Group Inc (CRON) registered a 8.68% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.68% in intraday trading to $2.88, hitting a weekly high. The stock’s 5-day price performance is 9.09%, and it has moved by 49.22% in 30 days. Based on these gigs, the overall price performance for the year is 48.45%. The short interest in Cronos Group Inc (NASDAQ:CRON) is 6.44 million shares and it means that shorts have 3.27 day(s) to cover.

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Cronos Group Inc (CRON) estimates and forecasts

Statistics show that Cronos Group Inc has outperformed its competitors in share price, compared to the industry in which it operates. Cronos Group Inc (CRON) shares have gone up 46.94% during the last six months, with a year-to-date growth rate more than the industry average at 90.00% against 8.20. In the rating firms’ projections, revenue will increase 15.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $23.78 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $24.5 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $20.14 million and $19.02 million respectively. In this case, analysts expect current quarter sales to grow by 18.10% and then jump by 28.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.06%. While earnings are projected to return 68.89% in 2024, the next five years will return 45.80% per annum.

CRON Dividends

Cronos Group Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Cronos Group Inc (NASDAQ:CRON)’s Major holders

Cronos Group Inc insiders own 46.65% of total outstanding shares while institutional holders control 13.13%, with the float percentage being 24.61%. Chescapmanager LLC is the largest shareholder of the company, while 201 institutions own stock in it. As of Jun 29, 2023, the company held over 8.33 million shares (or 2.18% of all shares), a total value of $16.4 million in shares.

The next largest institutional holding, with 6.82 million shares, is of Vanguard Group Inc’s that is approximately 1.79% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $13.43 million.

Also, the Mutual Funds coming in first place with the largest holdings of Cronos Group Inc (CRON) shares are ETF Managers Tr-EFTMG Alternative Harvest ETF and Vanguard International Stock Index-Total Intl Stock Indx. Data provided on Jun 29, 2023 indicates that ETF Managers Tr-EFTMG Alternative Harvest ETF owns about 6.49 million shares. This amounts to just over 1.70 percent of the company’s overall shares, with a $12.79 million market value. The same data shows that the other fund manager holds slightly less at 2.58 million, or about 0.68% of the stock, which is worth about $5.0 million.